If the $21 billion global life sciences market is like a freight train, then microarrays can be thought of as the tracks. Microarrays are collections of microscopic DNA and protein spots attached to a solid surface that are used to simultaneously measure the expression levels of a large number of genes and proteins or to genotype multiple regions of a genome. Through this rapid analysis, microarrays have dramatically accelerated research involving the human genome and proteome.
While the entire human genome was sequenced in April of 2003, the molecular diagnostics industry remains in relatively early stages of growth by many estimates. Companies like Myriad Genetics Inc. (NASDAQ: MYGN) now offer genetic tests that can show predisposition to a variety of diseases, including breast cancer, hemostasis, cystic fibrosis, liver diseases and others, but the limited number and accuracy of these tests leaves room for growth.
Growing Molecular Diagnostics Industry
Companies and Markets expects the molecular diagnostics market to grow at a compound annual growth rate of 9.1% over the next five years, increasing from $4.8 billion in 2011 to some $8.1 billion by 2017. While infectious disease testing represents 60% of the market now, future growth may be driven from the increasing prevalence of personalized medicine, as well as potential diagnostic testing for certain types of preventable cancers.
Personalized medicine involves using therapeutics and diagnostics tailored towards the treatment or prevention of an individual’s disease. Over the coming years, many analysts expect the burgeoning industry to transform the biopharmaceutical and molecular diagnostics markets by reducing treatment costs, detecting diseases earlier, ensuring patient compliance, enhancing drug safety, and optimizing therapies to achieve the best efficacy.
Microarrays Provide the Foundation
Microarrays underpin these growing markets by enabling research to be conducted in a cost-effective, efficient and rapid manner. Companies like Illumina Inc. (NASDAQ: ILMN) and Agilent Technologies Inc. (NYSE: A) have already become billion dollar leaders within the industry, while Affymetrix Inc. (NASDAQ: AFFX) and Arrayit Corporation (OTCQB: ARYC) offer investors the best pure play and growth rates within the industry.
Arrayit remains one of the most established players in the industry, with a stock price and market cap that offer room for growth. After getting its start in 1997, the company has installed more than 3,800 patented microarray platforms through a network of more than 50 international distributors. The Arrayit platform also uniquely allow customers to deposit any kind of molecule and more than 100,000 patient samples on a single microarray, differentiating it from the competition.
Perfectly Positioned within the Marketplace
Arrayit’s suite of 1,100 microarray products and services are affordable, flexible, sensitive and easy to use. With an enormous existing installed base, customers are already familiar with its products, which it can leverage to upsell instruments, consumables and other life sciences tools down the road. Moving into these areas will likely enhance the company’s profit margins and recurring revenues over time, potentially unlocking significant shareholder value.
In addition to these life sciences growth prospects, the company has also been developing its own proprietary diagnostic products. Its flagship OvaDx® is the first definitive diagnostic screening test for pre-symptomatic detection of ovarian cancer, while its pipeline also includes tests for Parkinson’s Disease and prostate cancer, among other conditions. Upon FDA approval, these tests will be made available to the public and will likely unlock further long-term value in the stock.
For more information, see the company’s website at, http://www.arrayit.com
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